The Cost of Having a Baby

When planning a family, one of the many important things to think about is how much it will cost to have a baby. Depending on what you may or may not have heard you may be surprised to hear what it may cost to raise a child, and it is important to get ready ahead of time for the amount of money you will need to have a baby. The necessities like food, clothing, and shelter need to be taken into account by themselves. Their educational needs, medical insurance and treatment, and of course recreational materials and activities may cost a lot as well.

Common wisdom may state that it costs 300K or 500K to raise a child to age 18, but if you look at your typical American income and the size of a typical American family, those figures do not add up. The 2010 Bundle Report showed that married couples with children spent an average of $6000 dollars a year more than their childless counterparts. A detailed chart showed that the age of a child made a difference in the amount that was spent also.

Before starting a family it is definitely worth your time and money to look into your health insurance benefits to be certain you are covered for maternity. You also need to look at how motherhood will impact the family income coming from the wife. When you are having your baby, the mother at least will have to take some time off of work by taking a maternity leave. This will cost you some of your income since paid maternity leave is very rare. Make sure you have enough money saved up ahead for emergencies before you decide to have a baby and go on leave.

After delivering the baby and bringing it home, you will have to spend a lot on baby diapers and milk. New babies usually require around 300 diapers per month though this amount is reduced over time, and this can add up to quite a lot every month. Add to that the amount of money you will need for milk and baby food. One family I know made an agreement that the husband would provide the disposable diapers if the wife provided the milk. The fact that she was a stay-at-home mother with plenty of time to nurture a breast milk supply made this a very economical plan.

Once your maternity leave ends and you need to go back to work, you will need to pay to send your baby or child to daycare. It will probably be expensive as well, especially if you have more than one child to be looked after. It is best to look for places nearby your home or your work place so you spend less time and money on travel. Another option is to economize strictly until the youngest child in your family is old enough for all day kindergarten in public school. The cost of after-school care is much lower than all day.

No matter how much you end up spending for your baby, you should know that it is all worth it. A child is a bundle of joy and a miracle of life, and it is worth all of the time and effort you put into raising your child. They bring so much happiness and meaning into one's life. Remember this when you are raising your child to be a great member of society.